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Hoping for some advice from FW members as to how to best sell silver coins for maximum dollars.

Looking at more recent years U.S. Liberty Dollars & Canadian Maple Leaf 5 Dollars. These are 1 troy oz. & 99.9 fine (US) or 99.99 fine (Canada) All uncirculated. Some are proof condition in issue box. I'm believing these probably don't have any numismatic value -- but would have silver content value.

I'm wondering how I could get the full market price for the silver content or nearly so.

Also have some older silver coins which might have numismatic value beyond their silver content. e.g. a few late 1890s or early 1900s or 1920s Morgan Silver Dollars ; these have been circulated. Several earlier 1930s U.S. silver dimes & quarters. These have been circulated. Wondering how to best get the max $$$ for these.

Have checked around the web for some education -- but though some FWers here might know more.

Any discussion or opinions/advice would be appreciated. Thanks.

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Do banks let you bring a 3rd party into the vault area? In my experience (only at one bank) they check ID carefully, re... (more)

Kanosh (Apr. 25, 2011 @ 5:57p) |

I do transfers right in the lobby. I may or may not need to retrieve the goods from the box, but its pretty easy to scou... (more)

delzy (Apr. 25, 2011 @ 7:07p) |

Today APMEX started advertising that they will buy american silver eagles for spot + $3, that is pretty good if you are ... (more)

AdamW81 (Apr. 25, 2011 @ 9:39p) |

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Craigslist, friends, family, barter, etc. Dealers will extract a premium. Commercialized marketplaces (i.e., eBay) will charge fees.

I have some U.S. silver certificates paper money. From what I read they no longer are redeemable for silver (since 1968 or so ??) Anyone know different ??

I assume your proof coins are American Silver Eagles (ASEs). Those do have value above the silver content when in the original packaging. ASEs will bring a little more than the Canadian version due to greater demand. You won't be able to get 100% of the silver value unless you sell on eBay, but you should be able to get within 10% or so.

For your older coins, borrow a copy of the Guide to United States Coins (aka "the Redbook") from your library and see if any of them are rare dates, using the prices as a guide. The Redbook lists retail prices, not what you can get from selling them to a dealer. Chances are what you have is only worth silver content, but you might as well check.

It's easy enough to call local coin dealers and ask what they are paying for Silver Eagles, proof Silver Eagles, 90% silver (your dimes and quarters), and Morgan dollars. Sell to the highest, but remember prices change daily, sometimes throughout the day.

You can get a little more selling direct on eBay, but in my opinion it's not worth the extra hassle. Lots of people winning auctions for coins like yours, and if the price of silver drops in the next couple days after the auction ends they just refuse to pay. I think it's best to get cash in hand from a local dealer. Craigslist is now full of people who work a deal on the phone or through email, then when it's time to deliver they show up with 20% less cash than agreed upon and say "that's all the cash I have, take it or leave it" knowing a lot of people will do the deal anyway. Big timewasters.

WoozyMoose said:   I have some U.S. silver certificates paper money. From what I read they no longer are redeemable for silver (since 1968 or so ??) Anyone know different ??

Correct, they are no longer redeemable for silver. But still are worth $1.10 or so unless they are really ratty.

I haven't tried it, but Nucleo Exchange from Bullion Direct looks really interesting to me, but probably not for proof coins.

Nucleo Exchange

I just sold several gold coins recently (both bullion and old US issued) at a local coin dealer store. I called several shops in my area to get price quotes. The prices that I got was a little under the spot price for the bullion coins. The older US coins got higher prices due to their numismatic properties. You can also sell direct to refineries who should offer you over 90% of the silver spot price. I probably could have gotten more by selling on eBay, but I did not want to bother with the shipping hassle and commission fees.

http://www.midwestrefineries.com/silver.htm
http://northernrefineries.com/Settlement.htm
http://aragold.com/refining-schedule.html

When I was looking into it, I found that if you are in an area with enough dealers, you can eventually get a good deal. Craigslist is full of only people that either (1) want to buy it for crazy cheap or (2) want to tell you about how you should keep it for the rapture. I eventually found a guy that was buying for 29X face (Spot was about 31X at the time).

eBay might be a good option, since apparently the bidders on there do not understand that when the sellers are saying "an ounce" of coins, that is not the same thing as a troy ounce of silver... since the sellers are selling 90% and because a lot of them are not using a troy ounce. I know that with CashBack, it can be worth it, but afaik the best cb you can do with eBay is about 10% and they are paying a lot more than 10% over spot for the silver.

There's some pretty obvious safety/security risks if selling bullion coins on craigslist.

Try selling to Kitco

Here is Kitco's currect buy price:
Kitco said: 1 oz Eagle $ 44.79

1 oz Maple $ 44.29

You can book (lock in) a price on-line then ship it, or have them give you the price once they receive it.

FWF406 said:   I haven't tried it, but Nucleo Exchange from Bullion Direct looks really interesting to me, but probably not for proof coins.

Nucleo Exchange
There are currently bids for Eagles and Maples on BullionDirect's Nucleo Exchange at $46.25 and $45.00 respectively, which is a little better than Kitco or APMEX even after the 1% commission they charge. I've used them on a few occasions; they're OK but can be a little slow on the payment side.

I would skip eBay. We've experienced some theft now that they have switched to a "buyer is always right" mentality. We sent off a few silver coins (quarters) to this guy and he said "Item not as described" which is weird since we had pictures of the actual coins. We issued the refund and told him to ship back the coins. Instead we got an empty box. The issue was considered "closed" by eBay so we couldn't file a complaint. When we contacted eBay they said there was nothing we could do about it and to make sure we look at people's feedback before letting them bid. A whole lot of good that does now that sellers can't leave negative feedback.

We just take our coins to the fair or tradeshows and deal with the coin dealers there. Our local coin dealer is a crook and since he is the only one constantly gets away with it.

Kanosh said:   There's some pretty obvious safety/security risks if selling bullion coins on craigslist. delzy had a good idea in another thread; meet at your bank... You can pull them out of your box and deposit the money before you leave.

Kanosh said:   There's some pretty obvious safety/security risks if selling bullion coins on craigslist.That's why you transact at a bank where you have an account and a safety deposit box.

Wow.. POS touched over $43.50 this morning.. who'd of thunk it?..

JTFH said:   Kanosh said:   There's some pretty obvious safety/security risks if selling bullion coins on craigslist. delzy had a good idea in another thread; meet at your bank... You can pull them out of your box and deposit the money before you leave.My box agreement specifically stated I can't keep precious coins in there. I guess they just want to cover themselves for insurance purposes, but still, I wouldn't want the employees to know I have bling in my box.

scripta said:   JTFH said:   Kanosh said:   There's some pretty obvious safety/security risks if selling bullion coins on craigslist. delzy had a good idea in another thread; meet at your bank... You can pull them out of your box and deposit the money before you leave.My box agreement specifically stated I can't keep precious coins in there. I guess they just want to cover themselves for insurance purposes, but still, I wouldn't want the employees to know I have bling in my box.As opposed to dirty socks?

scripta said:   My box agreement specifically stated I can't keep precious coins in there. I guess they just want to cover themselves for insurance purposes, but still, I wouldn't want the employees to know I have bling in my box. This, an in some states (the terrible ones, like CA) the authorities are claiming current boxes "abandoned" and selling the contents off in mass... Under the guise of the "war on terror" boxes are also being searched without probable cause.

Security boxes are NOT what they once were.

bksavings said:   Try selling to Kitco
Here is Kitco's currect buy price:
Kitco said: 1 oz Eagle $ 44.79
1 oz Maple $ 44.29

You can book (lock in) a price on-line then ship it, or have them give you the price once they receive it.
This deserves some green. Thanks... You get $907 for a roll of Eagles, free shipping and no eBay risk/BS and choice of payment... You'd have to get over $1000 to equal that on eBay.

I've sold some of my gold coins to CNI http://www.golddealer.com/ and they publish their buy/sell prices.

I sold some 90% silver coins to a private party on CL but many of them are flakes, no shows, spammers, etc. It sorta turned into a silver swap party as there was several people where we all met at a Starbucks and we were all buying/selling silver coins, .999 bullion and some collectibles. It was pretty fun, but a rare occurrence. I also sold some gold to a gold dealer in Las Vegas (running bad at the poker tables) that also published their buy/sell prices, I don't remember the name of them. Found them, Sahara coins http://www.saharacoins.com/
.
Of course I wished I'd waited as I sold at about $1,100/oz and gold is now around $1,500.

Silver has done much better as I bought a lot of silver at about $5/oz and now it's around $43/oz.

I bought a bunch of US Mint Silver Proof sets that the melt value is much higher than the book value. However, the price guides are really lagging so they are not selling at their "true" value IMHO as I feel they should have added collector value above melt value.

I have a bunch of scrap sterling silver I haven't found a good venue to sell. Looking at eBay, Sellers are getting a fair price.

Thanks thus far to everyone & your comments. Very enlightening. I gave green to each person positing a message.

More comments are always welcome. Nice info thus far. Very appreciative.

serasvictoria said:   I would skip eBay. We've experienced some theft now that they have switched to a "buyer is always right" mentality. We sent off a few silver coins (quarters) to this guy and he said "Item not as described" which is weird since we had pictures of the actual coins. We issued the refund and told him to ship back the coins. Instead we got an empty box. The issue was considered "closed" by eBay so we couldn't file a complaint. When we contacted eBay they said there was nothing we could do about it and to make sure we look at people's feedback before letting them bid. A whole lot of good that does now that sellers can't leave negative feedback.

We just take our coins to the fair or tradeshows and deal with the coin dealers there. Our local coin dealer is a crook and since he is the only one constantly gets away with it.


I experienced only one "unfulfilled" transaction on eBay and it involved buying a US silver coin set. The lady was selling stuff to help pay for expenses related to her son's death. She sent my stuff to another buyer and asked if I would accept something else as a replacement. I told her to just cancel the transaction and never heard anything further. It was only $10, so I let it go.

I bought a large group of US Silver dollars quite a few years ago from a local coin dealer and decided to return some of them. I sent the returned items (not registered, but insured) and the company said that they received empty boxes. I had to file a claim with the post office for reimbursement and asked the company to send the original shipment boxes for my filing of the claim. I could not tell if the company took the coins and then claim not having received them in order not to refund my money.

I have a couple of coins that I'm considering having graded by PCGS or NGC, but the expense it pretty hefty. However, one of my Morgan Dollars maybe worth $500-2,000 so I guess that one would be worth it.

The basic cost is like $45 or higher if the value is over $2k. For 95% of all coins, that's too much money.

FWF406 said:   I haven't tried it, but Nucleo Exchange from Bullion Direct looks really interesting to me, but probably not for proof coins.

Nucleo Exchange


I have used them for about 6 years and have always been really happy with them.

Darrelll said:   I have a couple of coins that I'm considering having graded by PCGS or NGC, but the expense it pretty hefty. However, one of my Morgan Dollars maybe worth $500-2,000 so I guess that one would be worth it.

The basic cost is like $45 or higher if the value is over $2k. For 95% of all coins, that's too much money.


Having a very rare coin graded could be beneficial should you wish to sell it later. PCGS and NGC are the top two coin grading services. Be aware that they do not accept direct submissions from consumers. You must be a member of a numismatic group or submit the coin through a dealer who is a member of PCGS or NGC. Companies like ANACS and ICG will accept direct submissions without any other requirements. They charge less, I think around $19 per coin. I have a US 1901-P Morgan silver dollar with the double die reverse VAM-3 (shifted eagle) that I am thinking of having graded. It looks to be in EF condition and the double eagle is very pronounced under magnification.

http://www.vamworld.com/1901-P+VAM-3

fedguy said:   PCGS and NGC are the top two coin grading services. Be aware that they do not accept direct submissions from consumers. You must be a member of a numismatic group or submit the coin through a dealer who is a member of PCGS or NGC.

You can join PCGS collector club and submit directly. $49 per year for Silver or could choose the Gold status for $129 a year and get a voucher for 4 submissions included in the $129.

You returned payment before you got the item(s)??!!?!?!

serasvictoria said:   I would skip eBay. We've experienced some theft now that they have switched to a "buyer is always right" mentality. We sent off a few silver coins (quarters) to this guy and he said "Item not as described" which is weird since we had pictures of the actual coins. We issued the refund and told him to ship back the coins. Instead we got an empty box. The issue was considered "closed" by eBay so we couldn't file a complaint. When we contacted eBay they said there was nothing we could do about it and to make sure we look at people's feedback before letting them bid. A whole lot of good that does now that sellers can't leave negative feedback.

We just take our coins to the fair or tradeshows and deal with the coin dealers there. Our local coin dealer is a crook and since he is the only one constantly gets away with it.

Here is my Silver buying/Selling advice. DON'T buy Eagles and DEFINITELY don't buy 'graded' coins or anything with a premium. Buy STERLING Silver, it's 92.5% pure old forks,spoons are the best. Dented stuff is even better. If you look you can find this stuff for less than half of spot, just make sure it's not 'weighted'. It's ALL about the Troy OZ NOTHING else matters.

If you buy sterling at a discount, remember you'll also sell it at a discount. Melt value for sterling is about 7.5%-10% less than its weight in troy ounces (as it's not 100% pure silver). And nobody pays full melt for sterling, usually the best you can get is 10% less than melt value. So if you have 10 ounces of sterling, you would be fortunate to get an offer for 20% less than the spot silver price (10% less for fineness, and another 10% less because it's sterling).

Also, don't buy sterling knives based on weight because there is filler in the handle.

Just didn't want anyone to think you can buy it cheap and sell it for full value.

cyberl0k said:   fedguy said:   PCGS and NGC are the top two coin grading services. Be aware that they do not accept direct submissions from consumers. You must be a member of a numismatic group or submit the coin through a dealer who is a member of PCGS or NGC.

You can join PCGS collector club and submit directly. $49 per year for Silver or could choose the Gold status for $129 a year and get a voucher for 4 submissions included in the $129.


This would be for die hard coin collectors, which I am not one. I don't like paying for internet service (it used to be free) and I get a prepaid cell phone service for just $10 a year. This type of expense I would consider to "extravagant" for someone who is not a true coin collector.

kranky said:   If you buy sterling at a discount, remember you'll also sell it at a discount. Melt value for sterling is about 7.5%-10% less than its weight in troy ounces (as it's not 100% pure silver). And nobody pays full melt for sterling, usually the best you can get is 10% less than melt value. So if you have 10 ounces of sterling, you would be fortunate to get an offer for 20% less than the spot silver price (10% less for fineness, and another 10% less because it's sterling).

Also, don't buy sterling knives based on weight because there is filler in the handle.

Just didn't want anyone to think you can buy it cheap and sell it for full value.



I agree, but here is the problem. Eagles are ALWAY'S bought at a premium, usually 5-10% OVER spot, anyone dealing in Eagles knows what they have. Sterling is different, some old dented Tea Sets or cream and sugar sets, especially if they are BLACK are seen as JUNK by most people. offer someone 50 bucks for a heavy sterling Tea Pot and most will think they have taken you for a ride.Alot of people think 'Silver' is a color NOT a metal. I once bought a unweighted cream and sugar set from an ANTIQUE DEALER for $10, it weighs about 5 oz not the best, but in good condition, granted at the time silver was $5 an oz, meaning at the VERY least she should have sold this for $25 plus. She knew it was Stering, not sure if she really knew what that meant, somehow I doubt it.

APMEX even better than Kitco... got the following in my email. >$50 an eagle! Not bad... Wonder why beefalos aren't mentioned.

delzy said:   Kanosh said:   There's some pretty obvious safety/security risks if selling bullion coins on craigslist.That's why you transact at a bank where you have an account and a safety deposit box.

Wow.. POS touched over $43.50 this morning.. who'd of thunk it?..


Do banks let you bring a 3rd party into the vault area? In my experience (only at one bank) they check ID carefully, require sign in, and only allow the person(s) listed as boxholders into the vault area. Or do you mean that you get the silver out, then go back and exchange money over the deposit slips in the main lobby area?

Kanosh said:   delzy said:   Kanosh said:   There's some pretty obvious safety/security risks if selling bullion coins on craigslist.That's why you transact at a bank where you have an account and a safety deposit box.

Wow.. POS touched over $43.50 this morning.. who'd of thunk it?..


Do banks let you bring a 3rd party into the vault area? In my experience (only at one bank) they check ID carefully, require sign in, and only allow the person(s) listed as boxholders into the vault area. Or do you mean that you get the silver out, then go back and exchange money over the deposit slips in the main lobby area?
I do transfers right in the lobby. I may or may not need to retrieve the goods from the box, but its pretty easy to scout out the situation when I arrive at the credit union. My credit union has a waiting convenient waiting area in the middle of all the offices. The main thing you want is to be able to walk in and out of the place without your buyer knowing for sure if you are carrying any high value.

Today APMEX started advertising that they will buy american silver eagles for spot + $3, that is pretty good if you are looking to sell, they seem to have been retailing around spot + $4 recently (until every dealer in the US ran out again...)



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